You will drive a fairly new car for a limited period of time. Using a credit card to buy a new jacket from a department store and then paying the charge off over several months . Do not round any answers. When they are finished, discuss their answers. BETTER MONEY HABITS: MIDDLE SCHOOL 4 BETTER MONEY HABITS MIDDLE SCHOOL LESSON: CREDIT AND DEBIT: TWO VERY DIFFERENT CARDS HANDOUT PART A Read the following statements about debit and credit cards. Cards, Cars and Currency Inside the Vault Lesson Plan I Handout 4.1 Cars: The Time Option You are buying a car and the dealer has offered several options for the length of the contract. It is a convenient form of borrowing with a revolving line of credit. Join for FREE interactive. Now ask student how someone might earn compound interest. It allows consumers to dispute billing errors on credit cards and to withhold payment for damaged goods. Add a dollar store microphone to each group to get them into the activity. a loan that is backed with collateral. Here is a graph of the amount of money on her fare card after winning the prize: The vertical intercept is 5, since the graph starts when she has $ 5 on her fare card. At the end of 2 years, we get $6200. 42 $8.00 2. 17. Arkansas State University, 4-3 How Much Can They Safely Carry? Put an At the end of 3 years, we get $7400 • Guided Exploration integrates key financial literacy … Buying the car back 4. If your car payments alone put a strain on your budget, you might find yourself the owner of a car you can’t afford to drive. Total cost of car—$20,000 Generally monthly car payments should be no more than ___of a car buyer's net pay, the reduction in value of a long-term tangible asset. So it’s a good idea to keep these extra costs in mind when figuring out what you can spend. ex. You will learn about dealerships pricing, some negotiation strategies, and where to research book values of cars. Free personal finance activities and lesson plans for middle and high schools, plus daily professional development for teachers -- also free We'd love to hear eyewitness The book Rich Dad Poor Dad is written by Robert T. Kiyosaki. online payment that is automatically deducted from the account balance on a recurring basis. but may give special discounts for card users. Monthly telephone bill . Ms. Johnson and Ms. Siple were folding report cards to send home to parents. Fair Credit and Charge Card Disclosure Act. Fan n Pick is a Kagan structure that uses four people in a group to review a concept. The ratio of the number of report cards Ms. Johnson folded to the Lesson Planning Articles Timely and inspiring teaching ideas that you can apply in your classroom Solutions Educator Edition Save time lesson planning by exploring our library of educator reviews to over 550,000 open educational resources (OER). It mandates disclosure of information about the cost (terms) of credit. For more information, please refer to the Appendix. Debit card transactions are deducted electronically from a cardholder's savings or checking account. Horn Lake, MS, Dr. Larry Dale, Have higher interest rates than other cards. He is obsessed with cars!! A person must have a _____ or _______ in order to secure and use a debit card. applying financial knowledge and skills in your life and taking responsibility for your personal financial decisions. Complete the last two columns. -- Eva Griffin, K-6 Technology Teacher, Arkansas. Lechter. One has the number and cars. bizteach2015. $184.108.40.206 Overtime Rate $123.24 Overtime Wages Step 4: $252.80 Regular Wages 123.24 Overtime Wages $376.04 Total Wages George earned $376.04. And if a new car is too much for your budget, you might consider buying a used car, which we look at in another video. The kids ask to do them every time they come to the lab. used at any business that accepts credit cards. 77 $5.78 5. an exchange, promise or agreement between two parties that is enforceable by law. To ensure the best experience, please update your browser. Using a credit card is a convenient way to buy now and pay later. Monthly payment on a car loan . or deposit money; often charged when not using your banks ATM. Perceived benefits that encourage certain behaviors. Lesson 9 Summary. credit cards lesson outline 8-G 8-H 8-I 8-J dealing with billing errors ... review the answers and the formulas used. 20. the credit card balance within a month . 19. 1. If you have authorized the credit card company to allow transactions that will take you over your credit limit, the credit card company can impose ____ fee per billing cycle. the amount of money you are paid before all deductions are subtracted. Dakotaa2014. are not the same; debit cards can make payments. your cosigner must agree in writing to the increase. established rules and amended previous acts prohibiting unfair credit card practices: owners deposit funds to the account. In this lesson, you will learn how to analyze the factors that affect the total price for a car. Reinforce facts and concepts of credit. Many car buyers only consider the monthly payment – but that’s not the entire picture. For each of the following statements, T . A credit card account is an ______ loan because it does not require ______. "Pick a card, any card!!" Millions of people turn to the Nerds to find the best credit cards, up their credit score, land the perfect mortgage and so much more. Problem 3 : If a sum of money amounts to $ 6200 in 2 years and $ 7400 in 3 years under simple interest, then find the principal. Person 1 fans the cards, Person 2 picks a card and reads it, Person 3 answers the card, and Person 4 determines if the Person 3 was correct or not. They want to be able to hopefully make money when they sell the place. Economics Chapter 10 29 Terms. Credit cards & checks. The dealer has figured the amounts in the first three columns but has eft the last two columns blank. Lesson 1 - Page 4 Lesson 1 Introduction to Banking 3. money a bank pays you for keeping your money with them, or money you pay a bank when you re-pay a loan ... money to pay for her car insurance. Credit card comps do this. 69 $5.82 4. If the cardholder does not pay the full statement amount by the due date, the credit card comp adds interest to the balance the holder owes. students when they think someone might pay compound interest. Evaluate the costs and benefits of car purchase options. replaces cash and checks. On this page you can read or download cards cars and currency lesson 1 answers in PDF format. MONEY SMART FOR GRADES 9–12 AND AGES 18–20: EDUCATOR GUIDE 6 LESSON STRUCTURE Each lesson is designed to include the following: • Warm Up introduces students to the topic and sparks inquiry. It has a limit, however. car. Cards, Cars and Currency | Overview ©2010, Federal Reserve Bank of St. Louis Permission is granted to reprint or photocopy this lesson in its entirety for educational purposes, provided the user Cards, Cars, and Currency Cards, Cars, and Currency “Job security meant everything to my educated dad. Identify the factors that affect the total price for a car including the interest rate, the length of a contract and the size of a down payment. I am thankful to have such a meaningful way to help teachers with their content and still practice the technology skills needed for my classes. Cards, Cars and Currency Inside the Vault Lesson Plan I Handout 2.2 The Bottom Line—Credit Card Disclosure Directions: Use the information below and refer to the Sample Credit Card Disclosure Information to answer the questions at the bottom of the page. 4-G manner of payment (MOP) codes 4-H types and sources of credit 4-I how much can you afford (the 20-10 rule) student activities 4-1 Should They Use Credit? the amount received on your paycheck after all deductions have been subtracted (taxes). Credit card vs. Debit card 20 Terms. ... Cash & Credit Cards. Used to encourage shoppers to spend more in their stores. Hence, the sum of money will be tripled in 20 years. Checks & debit cards. These credit cards can help you earn points toward the purchase or lease of a new vehicle or to pay for service, parts, and accessories at auto dealerships. Record your answer by clicking on the discussion board and respond to the thread titled "Choosing a Car: Part 4" Conclusion: We talked about new cars, pre-owned cars, financing, contracts, depreciation, collateral and payments plus more. the ability of a consumer to obtain goods and services before payment, based on an agreement to pay later; represents an agreement between a lender - the institution issuing the card - and the cardholder. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Cards, Cars, and Currency Lessons 1-5 51 Terms. If a credit card is lost or stole, the max amount a cardholder must pay is ____. It looks like your browser needs an update. used cars or older car, the highest-valued alternative given up when a choice is made. At the end of winter in Maine, the snow on the ground was 30 inches deep. Lauren_Mariano4. ... Interest: The amount of money that you pay to borrow money or the amount of money that you earn on a deposit Annual Interest Rate: The percent of interest that you pay for money Horn Lake High School, Some students will say that a credit card balance or a car loan might have compound interest. There are many factors to consider when buying a car. Cards, Cars and Currency: Lesson 4. ex. Solution : From the given given information we have the following points. 8-5 Lesson Eight Quiz . In this lesson, you will learn how to analyze the factors that affect the total price for a car. St. Louis, MO, Connie Lambert, Debit cards are different from ATM cards because you can use them to purchase items. legal right to take or sell property as security for debt, the original amount of money borrowed or still owed on which interest is charged, the amount earned per pay period before any deductions or taxes are subtracted, It is suggested that young adults save ____ of their disposable income. 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